Lates News

Guotai Haitong Securities research report pointed out that CITIC Securities' first quarter revenue/net profit attributable to shareholders in 2025 was 17.76/6.55 billion yuan, an increase of 29.1%/32.0% year-on-year. The improvement in investment is driving profit growth in line with performance forecasts. The current first-class investment bank construction welcomes a historical opportunity period, and the company's industry-leading advantages continue to strengthen, benefiting from the industry supply-side reform. In the long term, the supply-side reform remains the main theme in the industry, and the company is expected to accelerate transformation and speed up the construction of first-class investment banks during the industry opportunity period. Maintain the company's profit forecast (23.45/24.96/26.07 billion yuan for 2025-2027) and maintain the target price of 31.93 yuan, corresponding to 1.7xPB for 2025, maintaining a "Buy" rating.